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World’s 26 Richest Own As Much As Poorest Half of Humanity

World’s 26 Richest Own As Much As Poorest Half Of Humanity

In an annual Wealth check released to mark the start of the World Economic Forum in Davos, the development charity Oxfam said 2018 had been a year in which the rich had grown richer and the poor poorer. As a result, the report concluded, the number of billionaires owning as much wealth as half the world’s population fell from 43 in 2017 to 26 last year. The Guardian reports:

Oxfam said the wealth of more than 2,200 billionaires across the globe had increased by $900bn in 2018 – or $2.5bn a day. The 12% increase in the wealth of the very Richest contrasted with a fall of 11% in the wealth of the poorest half of the world’s population …

Among the findings of the report were:

* In the 10 years since the financial crisis, the number of billionaires has nearly doubled.

* Between 2017 and 2018 a new billionaire was created every two days.
The world’s richest man, Jeff Bezos, the owner of Amazon, saw his fortune increase to $112bn. Just 1% of his fortune is equivalent to the whole health budget for Ethiopia, a country of 105 million people.

The post World’s 26 Richest Own As Much As Poorest Half of Humanity appeared on Personal Finance News.



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